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Office Depot to redeem LYONs
New York, July 17 - Office Depot, Inc. said it will redeem its Liquid Yield Option Notes due December 2007.
The Delray Beach, Fla. office products retailer said the move will reduce its debt by $241 million.
The LYONs will be redeemed on Aug. 19 at par plus accrued interest.
Office Depot issued the convertibles in 1992.
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